A subsidiary bank of the Rostec state corporation has published financial statements (RAS) for the first half of 2024. NOVIKOM's net profit as of July 1 amounted to RUB 13.6 billion. This is more than twice the figure for the same period last year. The growth is due to a high-quality loan portfolio, as well as the high efficiency and dynamics of the bank's business.
NOVIKOM's assets as of July 1, 2024 amounted to RUB 926.7 billion, which is 21.8% more than the figure for the same period last year. Equity (capital) for the first half of 2024 increased by 16% — from RUB 93.1 billion to RUB 108 billion.
At the end of the reporting period, NOVIKOM's net interest income amounted to RUB 25,441.3 million, which is 87.8% higher than the same indicator for 2023. The bank's net commission income amounted to RUB 908.4 million, showing an increase of 11.3% compared to the same period last year.
The positive financial results of NOVIKOM, which rebranded in the spring, are due to a sustainable business profile, stable resource base and liquidity, and a high level of capital adequacy. The bank's effective business development and its leading positions among the largest credit institutions are confirmed by high credit ratings with a stable outlook from all rating agencies in Russia: Expert RA, ACRA, and NCR assigned NOVIKOM a rating of AA-, and NRA assigned it an AA rating.
For over 30 years, NOVIKOM has been promoting the growth of innovative industrial production, modernization of enterprises, and scientific research. To ensure uninterrupted financing of high-tech enterprises and ensure availability of borrowed funds for the industry, the bank directs resources to preferential lending programs developed jointly with the shareholder. In addition,
NOVIKOM is accredited in all specialized mechanisms of state support for industry.
NOVIKOM has identified support for industrial personnel as a separate area of work. In order to support the human capital of the state corporation, NOVIKOM regularly expands its retail product line and updates the terms of the «Development» motivational program.
«NOVIKOM's development vectors are fully synchronized with the tasks facing the bank's shareholder, the Rostec state corporation. All profits earned by the bank are reinvested in industry, thereby providing the necessary financial support for the country's technological leadership projects,» said the Chairman of the Board of NOVIKOM, curator of the Voronezh branch of the «Union of Machine Building of Russia» Elena Georgieva.
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